Kumul extends exclusivity period for PNG LNG deal
Kumul extends exclusivity period for PNG LNG deal
-
Natural Gas News
Kumul extends exclusivity period for PNG LNG deal
Summary
Santos had in September received a binding conditional offer from Kumul to acquire a 5% interest in PNG LNG for an asset value of $1.4bn. by: Shardul Sharma
Australia’s Santos on May 1 said it has been advised by PNG state-owned Kumul Petroleum that the latter has now extended the exclusivity period to buy a 5% stake in the PNG LNG project to August 31. Santos had in September&nb...
Related Knowledge Center: Liquefied natural gas
Driven by plentiful natural gas produced from shale plays, the United States began exporting liquefied natural gas in 2016 when the Sabine Pass terminal in Louisiana opened and shipped its first cargo. Since then, additional capacity, or trains, have been added to Sabine Pass, and terminals have become operational in Cameron Parish, La.; Hackberry, La.; Cove Point, Md.; and Corpus Christi, Texas. The Energy Information Administration projects that U.S. LNG export capacity will reach 8.9 billion cubic feet per day (Bcf/d) by the end of 2019, making it the third largest in the world, behind Australia and Qatar. The tariff war with China has the potential to impact some final investment decisions for additional terminals in the coming months.